For 2015, a Coverdell has a maximum contribution of $2,000 per year. A college 529 plan has a maximum of $70,000 contribution, front-loading 5 years' worth of contributions (5 x $14,000 gift tax exclusion amount).
Due to contribution limits, you can typically save a great deal more with a 529 vs. a Coverdell.
Coverdell contributions are not eligible for federal or state income tax deductions, though contributions have the potential to grow tax-free. College 529 plan contributions may be eligible for a state income tax deduction if you contribute to a plan in your state (and your state levies income tax)...and they have the potential to grow tax-free.
Tax-free distributions are limited to qualified higher education expenses with a college 529. A Coverdell includes elementary and secondary education in addition to college, for qualified expenses.
Hope that helps. Good luck!
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